Regulation & Compliance
House Republicans Call for Opening Black Box on Systemic Risk Designations
A group of Republican lawmakers demanded documents on Friday from U.S. regulators, voicing concerns that decisions about whether to designate large financial companies as systemically risky are ...
NRC Requiring Quake Assessments of Nuclear Plants; NY Plant Among First
A nuclear plant in the New York City suburbs will be among the first to do an in-depth analysis of its risk from earthquakes. The Nuclear Regulatory Commission said Friday that the Indian Point plant ...
Class Action Threat: Corp. Bylaws Can Make Suing and Losing Investors Pay Legal Costs, Says Delaware Supreme Ct.
Delaware's Supreme Court has ruled that corporations can adopt bylaws requiring an investor who sues and loses to pay the company's legal costs, potentially upending the economics of a booming type ...
A.M. Best Slashes Tower’s Financial Strength Ratings
Bad news for Tower Group International and its subsidiaries: A.M. Best has downgraded the insurer's financial strength ratings, as the carrier works through the steps of a planned merger with ACP Re. ...
International Fidelity Insurance Faces A.M. Best Review After Self-Reporting Statement Revisions
A.M. Best has placed the "A-minus" financial strength rating of Newark, N.J.-based surety writer International Fidelity Insurance Company (IFIC) under review with negative implications, following ...
Commercial Auto Insurers Canal and Lancer Get New A.M. Best Outlooks
Oldwick, N.J.-based A.M. Best issued revised outlooks for two commercial automobile insurance specialists yesterday—Canal Insurance Company and Lancer Insurance Company—changing Canal's outlook ...AIG Fined for Covering Canadian Clients With Cuba Ties
American International Group Inc. sold coverage to clients with ties to Cuba, a nation sanctioned by the U.S., when the insurer was owned by American taxpayers after its 2008 bailout. The insurer ...
Bernhard Appointed Head of Internal Audit at Hamilton Insurance
Last week, Hamilton Insurance Group today announced that Keith Bernhard has joined the organization as Head of Internal Audit. Bernhard takes on a newly created position at the Bermuda-based company, ...